AWG water ops performance strong; mulling Morrison listing

SarahTurner

LONDON (MarketWatch) -- Utility company AWG
uk:awg
said Friday that first-half performance at its water business was materially above management expectations while non-regulated businesses performed in line with expectations. Water revenues benefited from increased seasonal demand, which, together with operational efficiencies and savings from debt refinancing activities, contributed to a strong performance. AWG's Morrison division comprises utility services and facilities services. The company said that continued good progress at Morrison places that business on track to be capable of operating on a sufficiently standalone basis and it's considering a separate listing of this business in 2007. AWG didn't release more details about the offer approach it received on Sep. 14.

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